Single Resolution Fund
The Single Resolution Board (SRB) began functioning in Brussels in 2015, acts as an independent EU agency, and is a key body of the banking union. It is responsible for the effective and consistent functioning of the Single Resolution Mechanism (SRM).
The Single Resolution Fund (SRF) was established in accordance with Regulation (EU) No 806/2014, and is owned by the SRB. The SRB only uses the SRF for the purposes of ensuring the efficient application of resolution tools and the exercise of resolution powers, in line with the objectives of resolution and the principles governing resolution. The SRF is not used directly to cover losses or for the recapitalisation of the subject of resolution. The SRF is being built up in accordance with the rules for pooling contributions collected at national level, as set out in the Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund. The target level of the SRF is available financial assets in the amount of at least 1% of covered deposits of all credit institutions authorised in all participating Member States, by the end of the original period of eight years from 1 January 2016.
Banks established in Slovenia pay contributions to the SRF. For more about banks’ contributions to the SRF, see the SRB website.